subject
Business, 26.06.2020 15:01 stressedstudent6402

Suppose you are a building contractor and you sign a contract to build a home for the Smiths. Performance was to begin on July 15, 2019. On July 1, 2019 Acme Enterprises offers you a position that will yield you two and a half times the amount of net income you could earn as an independent builder. To take the job you have to start on July 15. Since you cannot be in two places at the same time you must breach the contract with the Smiths in order to accept the new position. Assume also for the exercise that the price quoted by the building contractor was $550,000.00 which was the lowest market bid by a quality builder available and that the present bids run from the $610,000.00 to $640,000.00 range for a comparable home. What are your options in this situation as the building contractor? What remedy do the Smiths have?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 22:50
Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.
Answers: 1
question
Business, 22.06.2019 11:00
What is the correct percentage of texas teachers charged with ethics violations each year?
Answers: 2
question
Business, 22.06.2019 14:30
Bridge building company estimates that it will incur $1,200,000 in overhead costs for the year. additionally, the company estimates 50,000 direct labor hours will be spent building custom walking bridges for the year at a total direct labor cost of $600,000. what is the predetermined overhead rate for bridge building company if direct labor costs are to be used as an allocation base?
Answers: 3
question
Business, 22.06.2019 17:30
Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.
Answers: 3
You know the right answer?
Suppose you are a building contractor and you sign a contract to build a home for the Smiths. Perfor...
Questions
question
Mathematics, 14.01.2021 07:20
question
Mathematics, 14.01.2021 07:20
question
Mathematics, 14.01.2021 07:20
Questions on the website: 13722363